Business
Ensysce Biosciences Reports Second Quarter 2021 Financial Results and Recent Corporate Updates
SAN DIEGO, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Ensysce Biosciences, Inc. (“Ensysce” or the “Company”) (NASDAQ: ENSC, OTC: ENSCW), a clinical-stage biotech
About this update from Ensysce Biosciences, Inc.
[{"type":"text","content":"SAN DIEGO, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Ensysce Biosciences, Inc. (“Ensysce” or the “Company”) (NASDAQ: ENSC, OTC: ENSCW), a clinical-stage biotech company with proprietary technology platforms to reduce the economic and social burden of prescription drug abuse and overdose, today reported financial results for the second quarter of 2021 and recent corporate updates. “In the second quarter, we successfully closed our merger with Leisure Acquisition Corp., providing us with financial resources to advance our lead clinical programs and focus on expanding our pipeline of products in the pain, opioid use disorder (OUD) and ADHD space as a publicly listed company,” said Dr. Lynn Kirkpatrick, CEO of Ensysce Biosciences. “We currently have two technology platforms, TAAP and MPAR™, with three clinical-stage product candidates. Our pipeline of candidates provides us with the ability to grow each of these programs. Our focus is on prioritization and resource allocation to maintain an optimal balance between aggressively pursuing our more advanced clinical-stage product candidates, such as PF614, PF614-MPAR™, and nafamostat, while ensuring the continued development of additional potential product candidates. We have partnered with contract development and manufacturing organizations (CDMOs) to bolster our team and facilitate multiple parallel development programs. Our view, based on data so far and feedback from experts, is that our lead assets for chronic and severe pain have the potential to be transformational.” Dr. Kirkpatrick concluded, “Over the long-term, it is our vision to develop the next generation of innovative solutions for severe pain relief while the reducing the fear of and the potential for opioid misuse, abuse and overdose.” Program Updates TAAP - opioid abuse deterrent program: Ensysce’s lead TAAP candidate, PF614, entered Phase 1b/Bioequivalence clinical development.Ensysce entered into an agreement for manufacture of PF614 clinical trial material with Recro Pharma. MPAR - opioid overdose protection program: PF614-MPAR™, our overdose protection program lead product, received an Investigational New Drug (IND) allowance from the U.S. Food and Drug Administration.Notice of Award for year 3 of a multi-year grant was received from the National Institute on Drug Abuse (NIDA), providing Ensysce with additional resources t...